While in many ways fundamentally different types of shocks, both the COVID-19 pandemic and climate change have in common that they are shocks fundamental enough to trigger substantial changes in behaviour and economic policies. The implied required fundamental structural changes to the way our economies work raise the issue of the role of “creative destruction”. This online event brings together major scholars to discuss COVID-19 and climate change through the lens of creative destruction. What role will, or should, creative destruction play in overcoming these shocks? How to encourage and facilitate creative destruction, while cushioning its social costs? Which measures to take to even benefit from creative destruction and creative rebuilding necessitated by COVID-19 and climate transition?
With Philippe Aghion (Harvard University), Thomas Philippon (Stern School of Business, New York University) and Şebnem Kalemli-Ozcan (University of Maryland), moderated by Natacha Valla (SciencesPo and SUERF).